StockNews.com Initiates Coverage on Avangrid (NYSE:AGR)

Equities researchers at StockNews.com started coverage on shares of Avangrid (NYSE:AGR) in a research report issued on Thursday. The firm set a “hold” rating on the utilities provider’s stock.

Avangrid Stock Up 0.6 %

AGR opened at $35.97 on Thursday. The company has a current ratio of 0.51, a quick ratio of 0.44 and a debt-to-equity ratio of 0.52. Avangrid has a 1-year low of $29.71 and a 1-year high of $37.70. The company has a market capitalization of $13.92 billion, a PE ratio of 12.36, a PEG ratio of 2.55 and a beta of 0.55. The firm’s 50 day simple moving average is $35.74 and its two-hundred day simple moving average is $35.79.

Avangrid (NYSE:AGR) last released its quarterly earnings results on Tuesday, October 22nd. The utilities provider reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.22. Avangrid had a net margin of 12.89% and a return on equity of 5.37%. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same period last year, the firm earned $0.27 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, equities analysts forecast that Avangrid will post 2.34 EPS for the current year.

Hedge Funds Weigh In On Avangrid

Institutional investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC boosted its stake in shares of Avangrid by 9.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 29,007 shares of the utilities provider’s stock worth $1,057,000 after purchasing an additional 2,603 shares during the period. Oppenheimer & Co. Inc. bought a new stake in Avangrid during the 1st quarter valued at about $335,000. Headlands Technologies LLC bought a new stake in shares of Avangrid in the 1st quarter valued at about $26,000. QRG Capital Management Inc. raised its holdings in shares of Avangrid by 28.0% in the 1st quarter. QRG Capital Management Inc. now owns 10,170 shares of the utilities provider’s stock valued at $371,000 after purchasing an additional 2,224 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Avangrid in the 1st quarter valued at about $4,504,000. 13.12% of the stock is owned by hedge funds and other institutional investors.

Avangrid Company Profile

Avangrid, Inc, an energy services holding company, engages in the regulated energy transmission and distribution, and renewable energy generation businesses in the United States. The company operates through Networks and Renewables segments. It is involved in the generation, transmission, and distribution of electricity; and distribution, transportation, and sale of natural gas.